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TH Doolans up for sale for €330K, owners decided to retire

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    #62
    O Riain
    Closed Accounts Posts: 1,107 ✭✭✭O Riain


    Dicky Pride wrote: »
    I get what you're saying but isn't that what the tourists want? Traditional Irish music?

    I mean you're not going to get locals in there midweek so they have to rely on the Americans etc.

    I actually think it's so far out of the way that it's going to take something significant to bring locals down there. If you were to give me a choice between the park inn and T&H's, I'd take the park in every time.

    Well bit of a difference between Trad music and folk music. Look I'm not saying you have to completely abandon the Irish music but just make the place look more attractive. Sometimes with a new owner and a few small changes a place can turned from a loss making disaster in an extremely profitable venture, even in quiet parts of town.

    Also this whole "quiet part of town" carry on is ridiculous. Waterford is tiny and to walk from T and H's to the "busy" part of town would take less then 5 minutes. Any person from a big city would not even consider this as any sort of a significant distance. In the states bars can be few and far between so technically loads of bars are in "quiet" part of towns.


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    #63
    wellboytoo
    Closed Accounts Posts: 2,081 ✭✭✭wellboytoo


    T and H's would be helped by competition close by, say like the bank reopening as pubs to work need to feed off each other.
    Just a thought.


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    #64
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    O Riain wrote: »
    Well bit of a difference between Trad music and folk music. Look I'm not saying you have to completely abandon the Irish music but just make the place look more attractive. Sometimes with a new owner and a few small changes a place can turned from a loss making disaster in an extremely profitable venture, even in quiet parts of town.

    Also this whole "quiet part of town" carry on is ridiculous. Waterford is tiny and to walk from T and H's to the "busy" part of town would take less then 5 minutes. Any person from a big city would not even consider this as any sort of a significant distance. In the states bars can be few and far between so technically loads of bars are in "quiet" part of towns.

    It may be ridiculous but you only have to walk that part of town after 6 to see that it's very much a reality. As wellboytoo says, if the bank bar opened up and then we had city arms and the Gingerman , and if the new boys did something impressive then maybe that part of town might stand a chance. But it's a very big might.


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    #65
    O Riain
    Closed Accounts Posts: 1,107 ✭✭✭O Riain


    Dicky Pride wrote: »
    It may be ridiculous but you only have to walk that part of town after 6 to see that it's very much a reality. As wellboytoo says, if the bank bar opened up and then we had city arms and the Gingerman , and if the new boys did something impressive then maybe that part of town might stand a chance. But it's a very big might.

    There's a pub in Limerick, Tom Collins, that's in a quiet part of town. Was not particularly busy but was taken over by new owners, some love was put into it and now it's one of the busiest bars in Limerick.


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    #66
    DeiseforLiam
    Registered Users Posts: 106 ✭✭DeiseforLiam


    Tourists on their own wouldn't keep a pub going in Waterford IMO and what was on offer there music-wise would not attract anyone who is actually into trad music (it had the opposite effect if anything). It is a quiet part of town but people will come if it's worth going to and yes, having another one or two good pubs in the immediate vicinity would help. People come to Cafe Goa, Garter Lane, La Boheme, etc. so if it is pitched correctly, it could do very well. I think it would be a good idea if the businesses around there put their heads together and promoted each other. Anyway, just my two cents' worth.


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    #67
    mozattack
    Registered Users Posts: 1,908 ✭✭✭mozattack


    I did the numbers on this for a bidder and he was going in at €350k, maximum €410k.

    At €410k the numbers look a little hairy so for those saying €520k is too much, I agree. The place is a ruin of a building and you'd lose €150k in a second doing anything with it.

    Add rates of €21k, insurance of €8k, entertainment costs of circa €35k, loan interest on €520k of €26k and you have sell €280k of pints to pay that back alone (assuming 25% wages to turnover and 60% margin - which would be high nowadays)


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    #68
    Bringthethunder
    Closed Accounts Posts: 197 ✭✭Bringthethunder


    Dicky Pride wrote: »
    This is the problem with this county/country...people who tell it like it is, are struck down as being negative people.

    I'm a positive person, but I'm also a realistic person. T&H Doolan is a pub that's situated in a part of town that falls into a deep sleep after 6pm. Waterford is full of people who complain when a pub closes but buys all their drink from Tesco.

    I'll tell you why I don't think it's a "goldmine"

    1. It hasn't done a consistent trade in years.
    2. It's falling apart. The roof needs major work as does the plumbing. Whenever there's bad rainfall the pub smells like a concentration camp for a week.
    3. The toilets need to be redone as they are like something from the 1920s.
    4. The pub has been serving alcohol illegally for years. There is no license for the new part of the building, hence they shouldn't have been serving alcohol anywhere on the premises. So, the new owner must now go through the process of trying to get a new licence. And I'm sure there are other issues that I'm not aware of about the place.
    5. And this is the big one - in order to make money from a pub in this day and age you need to be busy 7 days a week and that's with food and drink. Especially when you've paid 520k for a pub, excluding rates of 24k due from last year and whatever is due this year. And then you can add your solicitor fees, stamp duty etc on top of that. T&Hs never did a good food trade, and the beer trade was just as bad. How are a family from Carlow going to turn that around?

    I'm not negative. I'm realistic. It just so happens that a bit of realism seems to annoy clueless people like Bringthethunder.

    The people who bought the pub are established publicans, they obviously done there homework and believe that the pub is profitable why else would they have spent over 500K? You are truly a glass half empty person coming up with reasons why the pub wont be profitable even though it was for years. Everyone is entitled to there opinion but you are a bank manager, your far from an expert on the hospitality industry, i'm sure your an expert on being unscrupulous and being a general bane to society, so why not try to support people who have the guts to take on a pub and provide employment to the town, unlike you the new owners wont get to suck on the teet of the irish taxpayer if it goes belly up.


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    #69
    wellboytoo
    Closed Accounts Posts: 2,081 ✭✭✭wellboytoo


    Bringthethunder wrote: »
    The people who bought the pub are established publicans, they obviously done there homework and believe that the pub is profitable why else would they have spent over 500K? You are truly a glass half empty person coming up with reasons why the pub wont be profitable even though it was for years. Everyone is entitled to there opinion but you are a bank manager, your far from an expert on the hospitality industry, i'm sure your an expert on being unscrupulous and being a general bane to society, so why not try to support people who have the guts to take on a pub and provide employment to the town, unlike you the new owners wont get to suck on the teet of the irish taxpayer if it goes belly up.

    Now Dicky, their they're he's write your rong


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    #70
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    I should probably come clean about the bank thing...


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    #71
    wellboytoo
    Closed Accounts Posts: 2,081 ✭✭✭wellboytoo


    Dicky Pride wrote: »
    I should probably come clean about the bank thing...

    Never forgive you for pulling my gold card.


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    #72
    ArtVandelay76
    Registered Users Posts: 281 ✭✭ArtVandelay76


    So who bought the place anyway, is it known yet?


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    #73
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    wellboytoo wrote: »
    Never forgive you for pulling my gold card.

    You brought that on yourself. Faberge Eggs...my God man...


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    #74
    mozattack
    Registered Users Posts: 1,908 ✭✭✭mozattack


    ArtVandelay76 wrote: »
    So who bought the place anyway, is it known yet?

    I know :)


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    #75
    mozattack
    Registered Users Posts: 1,908 ✭✭✭mozattack


    Bringthethunder wrote: »
    The people who bought the pub are established publicans, they obviously done there homework and believe that the pub is profitable why else would they have spent over 500K? You are truly a glass half empty person coming up with reasons why the pub wont be profitable even though it was for years. Everyone is entitled to there opinion but you are a bank manager, your far from an expert on the hospitality industry, i'm sure your an expert on being unscrupulous and being a general bane to society, so why not try to support people who have the guts to take on a pub and provide employment to the town, unlike you the new owners wont get to suck on the teet of the irish taxpayer if it goes belly up.

    Remember that those who bought T&Hs and An Bothar Buide and Muldoons and Harveys (and so on) were all experienced publicans at the time of buying those pubs weren't they? Didn't go too well.

    There is a price point which when reached makes a purchase unviable... €520k is certainly at that level.


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    #76
    Finnbar01
    Registered Users Posts: 2,065 ✭✭✭Finnbar01


    wellboytoo wrote: »
    T and H's would be helped by competition close by, say like the bank reopening as pubs to work need to feed off each other.
    Just a thought.

    Why did the Bank close down?


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    #77
    shockwave
    Registered Users Posts: 1,770 ✭✭✭shockwave


    Finnbar01 wrote: »
    Why did the Bank close down?

    Because it was a crap pub with no atmosphere and didnt do much business.


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    #78
    danjo-xx
    Registered Users Posts: 5,393 ✭✭✭danjo-xx


    Sold today for 520k


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    #79
    wellboytoo
    Closed Accounts Posts: 2,081 ✭✭✭wellboytoo


    danjo-xx wrote: »
    Sold today for 520k

    Were you caught up in a temporal anomaly for the last week?


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    #80
    danjo-xx
    Registered Users Posts: 5,393 ✭✭✭danjo-xx


    wellboytoo wrote: »
    Were you caught up in a temporal anomaly for the last week?

    It only hit print form in Waterford Today:D


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    #81
    Dicky Pride
    Closed Accounts Posts: 1,322 ✭✭✭Dicky Pride


    God help ya if you're relying on the Waterford Today for your news.


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    #82
    danjo-xx
    Registered Users Posts: 5,393 ✭✭✭danjo-xx


    Dicky Pride wrote: »
    God help ya if you're relying on the Waterford Today for your news.

    What gave you that idea, wasn't really following this thread to be honest.:) heads to the door
    Dog-04-june.gif


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    #83
    gw80
    Registered Users Posts: 1,013 ✭✭✭gw80


    love the dog:), how long will he keep running for? until the end of the internet?

    ah no, he stopped running.:(


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